Member Info for Tigar

Suppose they would advice against buying a house, pay rent then you won't have horrendous debt. Even a mortgage company looks at your income against interest payments. Ours $800m FCF against about $85m in interest

Hi mrc
I expect Enquest will come up with a plan, I would have thought a pipeline would take gas to Sullom Voe and EP would handle oil and expect electrification to be part of the long term project but expecting AK to handle the three fields is unlikely. Enquest has the experts to decide when and how. A run up to 42p coming I feel it in my waters.

Hi Tarmak
I suspect they will target Bressay gas first, but it could be that it may be good to develop both in tandem and EP could handle both? it was suspected that they were connected fields and claimed that Bentley needed just an FSO, my point was with a 100% holding the option to partner the project would be on the table. But there are plenty of options for organic growth.

Good summery, I like your note on Bentley yes lots of Tax credits and we own 100% so when the case is made to drill lots of room to offset some of the costs by sharing the outlay. And EP could be used as well?

They don't exercise them because they are set at above the money raising price of 7p that is the whole point if we get a mine built on time at a controlled price and it works 100% the managers will get chance to buy at a price like the investors who put up the money and they are looking to get a very high return on the capital it is not about instant gratification it's called Investing! Small fish like us can get in below the big Investor's but it is 18-24 months away, expect to wait for the big returns the discount to investment price could disappear at any time drip feed in is my tactic but if you can feel the bottom one big entry would be lovely but you may end up with none.

Thanks for link romaron
Enquest HYN are probably doing well because we are buying them back hopefully at a small discount to face, hopefully this time next year all gone with just a RBL and retail bonds outstanding.
Surprised Tullow hasn't embarked on HYN buyback at those prices?

To bring this project to a successful conclusion will inevitably bring a share price multiple of todays price and requires some talented managers who earn a living but may not be rich in the present but the options as they are set give them the incentive to make a killing from a job well done, that is the normal view.

You too Beerbull it will be what it is, I meant momentum group infiltrated Media by the way.

Beerbull that all sounds a bit momentum media views, is the UK in a pickle if judged by the rest of the world? Boris walked us a path through covid that allowed us to keep the country running and be ready to boom as we came out of it, where are the dole queues predicted at the start, we are now faced with world upheaval again by war. Boris was the leader to walk us through that but politics is what it is, I just hope Liz truss is bold enough to go for growth in energy supply against the media doomster's that only add to our problems quickest and only way to lower gas prices is increased supply and this country is blessed with sitting on loads.

Updated to 26p looks about right in the mirror?

Starmer like so many people think that they can tax the oil profits, they can't only the ones made on NS oil and gas and higher taxes on UK registered oil companies on profits made on oil abroad would mean they would not be registered in UK for long, perhaps he does understand but he is not in power so it sounds like he is on the peoples side! UK Government should do the oil & gas hedging on behalf of the Electricity generating companies thereby fixing the price in the coming year and eliminating the real profit maker's bankers!

Fully agree Voice ENQ still making expected profits from oil and losses from Hedges, we just need a higher than Hedge prices in last quarter to really pile up H2 FCF.
We had an early update before Sept results for a reason, some things were put into the public domain, waiting for news on HYN resolution of way forward. Anybody have the latest price of HYN are Enquest able to pick up below face value hopefully still buying them in the market?

Hi contrarian123
Out of curiosity was wondering what your entry point will be and what sort of stake are you looking to take (will it move the price?)

With a 6 Month full store cupboard you should be ok, just in time for the dividend cheque's to start arriving?

Hi taufour
My point on them not having to attract investors is the company has raised the money from the market already we are only trading between ourselves the price of the shares do not effect the outcome of the mine. Of course the board have been given options at price's above the fundraising and will be motivated to bring it home on budget and for the share price to be much higher than now with a successful operation.
It is all 18 months away so the market will likely give us opportunities to make or lose money trading them, that would only effect the company if they need more money one of the reasons I like them is they seem to have a great team, that knows how much we needed and built in good headroom and raised it all before they started.

Nothing new but a nice article, a decision on Bressay soon?
https://www.proactiveinvestors.co.uk/companies/news/988962/enquest-mulls-new-north-sea-investments-988962.html

Of course they havn't they are in place to reward them when the mine is successful and shareholders who put the money up are getting rewarded. So are set at above the fundraising price but they have already got the money needed so don't give a fig if you or me buy a few, anyone try to build a big stake and this will go through the roof.

The Board of HZM do not have to attract investors as such they have already done that job all the money needed was found and is in the bank, they have the team the money and most of the contracts to build the mine are in operation and they have a clear incentive options in place that will reward them at prices above todays share price if all goes well. The great majority of shares are held tightly. Am getting ready to pounce on a few more soon!

From todays figures we can see that RBL is still $115m outstanding HYB $813m after some purchases, RB at todays £ to $ work out at $297m so that's a total of $1225m to pay interest on so with net debt stated as $880m we must have $345m in cash up from $318m at year end.
Interest should be $86m year. Someone needs to tell the tax brigade, we sill haven't had a penny as investors in the company from day one! and that needs to change.

May operations update gave first 4 months of year at 50361bpd and looking good for extra soon.
"Malaysian operations

For the first four months of 2022, average production in Malaysia was 5,910 Boepd. An active programme of well workovers (four wells) is underway, with the first three workovers completed where the early results have been encouraging. The drilling rig has been mobilised and installed at the platform ahead of the commencement of the four well infill drilling campaign."